General Motors Company (GM) and Ford Motor Company (F) reports double-digit gains in China
General Motors Company (NYSE:GM) and Ford Motor Company (NYSE:F) have both reported double-digit sales gains in China for February. GM increased 20% and Ford jumped 67% from a year earlier period.
GM reported sales of 257,770 vehicles between it and its Chinese venture. The company saw sales up 12% in January and an 11.8% increase in December.
Ford said it sold 73,040 vehicles in China for February, which is up 67% year-over-year. Ford also reported a 53% sales rise in January and a 35% increase in December.
Through a partnership with FAW Group and SAIC Motor Corp., GM reported 605,831 vehicles have sold since the beginning of the year.
Ford has a partnership in place with Chongqing Changan Automobile Co. and Jiangling Motors Corp. and has sold 167,506 vehicles in China since January.
Ford is expanding its research and development operations in China by increasing workers by 50% to around 2,000 people by 2018. Ford is investing $100 million to hire additional workers and is constructing a new building. Ford is also building a test track at its Research and Engineering Center in Nanjing.